Signal-line Investment Meeting
Investor Profile & Team Preparation
Signal-line Investment Team
Ex-Invesco Real Estate Professionals
Darin Turner
Co-Chief Investment Officer
20+ year veteran of Invesco's Listed Real Assets team. Led acquisitions and structured investments. Now with Goldenrod Companies as Capital Advisor. Expert in real estate securities and portfolio management with ORIX Capital Markets background.
Paul Curbo
Portfolio Manager
22-year tenure at Invesco (1998-2020) in Real Estate Securities. Led western region research and strategy. Expert in REITs, multifamily, industrial, and office markets. University of Texas finance degree with Security Capital Group experience.
Tom Rocco
Capital Raising Focus
Recent hire focused on capital raising activities. Experience with Invesco's Global Consulting platform serving financial professionals in the Northeast. Strategic advisor for investment initiatives.
Investment Partnership Framework
Signal-line believes the Truckee model will be successful. They want to partner with Guesthouse in growth—making money together as we scale. Their investment focus centers on growth readiness: conviction about expansion preparation and systematic learning for scale competence.
  • Growth Partnership Mindset: Signal-line seeks to help Guesthouse expand, not just evaluate current performance
  • Learning Systems Focus: Evidence of systematic knowledge capture and transfer capabilities across markets
  • Scale Competence: Demonstration that the team understands and can execute operational levers for growth
  • Conviction Assessment: Confidence in Guesthouse's systematic approach to expansion readiness and preparation
Meeting Approach
While having a strong Lake Tahoe Campus story is important, the primary objective is demonstrating readiness to grow. Signal-line wants to see systematic preparation, learning frameworks, and operational confidence that enables successful market expansion partnership.
Guesthouse Growth Readiness Framework
Systematic Learning & Scale Preparation
Core Growth Preparation Themes
  • Doug's Best-in-Class Network: Proven ability to replicate institutional partnerships across markets with systematic regulatory success
  • Marta's Scalable Playbook: Union Square Hospitality Group methodology creating transferable operational excellence systems
  • Meagan's Network Effects: National partnership relationships that scale with portfolio growth rather than requiring market-by-market development
  • Ryan's Institutional Infrastructure: Financial systems designed for sophisticated investor participation and rapid portfolio expansion
  • Michael's Systematic Underwriting: Data-driven market selection and portfolio optimization enabling confident expansion decisions
Doug Appleton
Legal & Planning Coordination
Best-in-class approval network providing systematic regulatory replication capability, with proven learning systems for partnership development in new markets.
Scalable Approval Framework
GLA-Morris construction partnership providing premium mountain development capability
Sugarpine Engineering relationships ensuring technical compliance across projects
KRBS institutional kitchen design specialists with Single Thread and Ritz Carlton portfolio
Town of Truckee planning division collaboration model replicable in similar lifestyle markets
Institutional Credibility
Former Morrison Foerster attorney with Big Law sophistication
Current investor with operational oversight ensuring execution excellence
ABC and Department of Health compliance coordination experience
Proven track record: Second project with approvals already obtained
Partnership Portfolio
Partner Function Market Position
GLA-Morris Construction Premium mountain specialist
Sugarpine Engineering Technical compliance Local expertise & efficiency
KRBS Kitchen design Institutional F&B specialist
KRBS portfolio includes Single Thread (Healdsburg) and Ritz Carlton (Lake Tahoe)
DMUR
Zoning Status
2nd Project
Approvals Obtained
Established
Planning Relations
Signal-line Focus Areas
Partnership replication methodology in new lifestyle markets
Emphasize systematic approach to identifying best-in-class local partners, established criteria for market entry, and framework for regulatory relationship development in similar DMUR-zoned communities.
Regulatory risk mitigation across diverse market conditions
Detail proactive engagement strategies, grandfathered zoning advantages, and legal framework adaptability while maintaining institutional-grade approval success rates.
Marta Gawlowicz
Head of Hospitality & House Captain
Systematic hospitality playbook under development with Union Square Hospitality Group, creating learning systems that enable differentiated service replication across market expansion.
Scalable Playbook Development
Union Square Hospitality Group collaboration for institutional service standard development
Documented operational procedures enabling consistent premium guest experience
Cross-market knowledge transfer systems for rapid market expansion
Training protocol standardization supporting house captain model replication
Differentiation Drivers
Multi-year hospitality operations experience in front-of-house management
Quality assurance systems justifying premium rate positioning
Guest experience optimization through systematic service delivery
Operational excellence framework scalable across property portfolios
Institutional Partnership Value
Component USHG Integration Scalability
Service Standards Best practice development Systematic replication
Training Systems Operational excellence Market transferability
Guest Experience Premium differentiation Yield optimization
USHG
Partnership
Systematic
Playbook
Scalable
Excellence
Signal-line Focus Areas
Service differentiation sustainability across market expansion
Detail Union Square Hospitality Group methodology integration, documented playbook transferability, and quality control systems maintaining premium positioning regardless of market entry sequence.
Operational leverage realization through systematic hospitality delivery
Explain house captain model scalability, training system efficiency gains, and measurable guest satisfaction metrics supporting yield premium maintenance across portfolio growth.
Meagan Callahan
Membership Operations & Partnership Development
Strategic partnership networks and membership systems under continuous development, providing scalable guest sourcing channels ready for multi-market deployment.
Scalable Sourcing Networks
Luxury travel advisor relationships providing ultra-high-net-worth client pipeline
Corporate partnership development targeting executive retreat market segment
High-end hotel concierge referral networks with market transferability
Private wealth management client sourcing relationships across markets
Membership Framework
Annual membership structure with 5-night allocation optimizing utilization
Guest quality control through systematic screening processes
Revenue predictability through recurring membership fee generation
Cross-market membership transferability enabling portfolio utilization
Market Penetration Strategy
Channel Market Share Transferability
Corporate Retreats 25% of bookings National relationships
Membership Network Recurring revenue Cross-market access
Luxury Travel Partners Premium segment Established networks
25%
Corporate Share
5 Nights
Member Allocation
National
Network Reach
Signal-line Focus Areas
Partnership network scalability across diverse lifestyle markets
Emphasize transferable luxury travel relationships, systematic high-net-worth community identification, and corporate partnership replication methodology enabling consistent guest sourcing in new markets.
Membership model optimization for portfolio-level utilization
Detail cross-market member access benefits, portfolio-wide allocation optimization, and systematic approach to membership growth supporting predictable revenue across market expansion.
Ryan McQueeney
Fractional CFO & Financial Operations
Institutional-grade financial systems architected for growth, with diligence-ready infrastructure supporting sophisticated investor partnership and rapid portfolio scaling preparation.
Diligence Readiness Framework
Multi-entity OpCo/PropCo structure optimized for institutional investor participation
Monthly financial reporting with audit-ready documentation standards
Automated inter-company transaction processing and reconciliation systems
Real-time financial dashboard enabling portfolio-level performance monitoring
Scalable Infrastructure
Standardized accounting procedures across all property entities
Inter-company transfer pricing optimization for tax efficiency
Cash flow management systems supporting rapid capital deployment
Financial infrastructure designed for multi-market portfolio expansion
Institutional Structure
Component Current State Scalability
Property Companies 3 active entities Systematic replication
Operating Company Centralized operations Multi-market leverage
Reporting Systems Monthly cycles Real-time capabilities
4
Total Entities
Monthly
Reporting
Automated
Processing
Signal-line Focus Areas
Financial control maintenance during rapid multi-market expansion
Detail automated system scalability, standardized reporting protocols, and OpCo/PropCo structure flexibility enabling institutional-grade controls without proportional overhead increases across markets.
Investor participation optimization through entity structure design
Explain flexible capital structure accommodating multiple investment levels, transparent fee methodologies, and real-time performance visibility supporting sophisticated institutional investor requirements.
Michael Hengst
Financial Modeling & Investment Analytics
Systematic underwriting framework under continuous refinement, enabling data-driven market expansion decisions with institutional-grade analytical capabilities for growth partnership.
Market Underwriting Framework
Third-party STR data provider partnerships for market validation and benchmarking
Standardized underwriting models enabling systematic new market evaluation
Portfolio-level aggregation analysis supporting operational leverage quantification
Comprehensive sensitivity analysis and stress testing across market conditions
Analytical Capabilities
Property acquisition models incorporating local market dynamics and competitive positioning
Multi-revenue stream forecasting across STR, F&B, and ancillary services
Exit scenario planning with multiple disposition strategies by market type
Capital allocation optimization supporting efficient market entry sequencing
Performance Validation
Metric Target Range Market Application
Unlevered Yield 9-12% Market-adjusted expectations
Target IRR 22-28% Market cycle consideration
Breakeven Occupancy 25-30% Local market validation
Conservative
Assumptions
3rd Party
Validation
Systematic
Framework
Signal-line Focus Areas
Market selection criteria and underwriting consistency across expansion
Detail systematic market evaluation framework, standardized underwriting criteria, and third-party data integration enabling consistent investment decision-making across diverse lifestyle markets.
Portfolio-level optimization and operational leverage quantification
Explain hub model efficiency analysis, shared services benefit modeling, and systematic approach to portfolio composition optimization supporting institutional-grade return generation.
Document prepared for Signal-line investment partnership discussion. Emphasis on growth readiness demonstration, systematic learning capabilities, and operational scaling preparation to support joint expansion success.